Op-eds

Dean Bhaskar Chakravorti Dispels Some Myths on China and Innovation

On a recent to visit to China to speak at the World Economic Forum's Summer Davos in Tianjin, I was struck by a palpable sense of urgency. Catching up with US GDP was no longer the only burning issue; China, it was said, needs to close the gap with the US on innovation. I agree, but some myths about innovation in China need to be dispelled. I have heard five mentioned most frequently.

1. There is no innovation, only piracy and imitation.

2. The Chinese approach to innovation is too top-down and State-led, and real innovation only comes from the bottom-up from entrepreneurs.